When I meet people and tell them my background in economics, I get a wide range of reactions and often some strange looks. What I have yet to have happen is for someone to ask me, “What is economics?” I really wish they would, because how most people would define economics is quite a bit different than the actual meaning of the term. In this post, we will show that the ideas of economics are not confined to money and apply to every area of life, and how a basic understanding of economic principles can benefit one tremendously in ways beyond financially.